The Expert Group on Repossessions: condensed themes

We tried to put the main themes behind the 60 pages of the report (minus appendices) into a 1,000 word condensed version. 

To begin with the report (here) is just that, a report, it isn’t an automatic initiation of policy change although it may affect policy change in the future.

The Expert Group on Rerpossessions was established in September 2013 at the behest of the Troika  and was mentioned in the 9th review of the Memorandum of Economic and Financial Policies (MEFP).

They didn’t understand (nor did our own decision makers) the reasons behind the length, lack of predictability of outcome, cost of proceedings and how it stacked up compared to other jurisdictions.

We have an abnormally low rate of repossessions in Ireland, that is both in absolute terms and most tellingly in relative terms to other countries, and the system for this is also lengthy, complicated and expensive.

There is nothing in the report which calls for wholesale repossessions, and in light of the facts (rather than the spin) …

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Davenport after Dark on Newstalk: Karl Deeter on mortgage repossessions 1st August 2013

We were asked to speak to Fionn Davenport & Kieran Cuddihy on Davenport After Dark about the changes in the Land Conveyance Law Reform Act 2013 which may result in more repossessions in the future, we agree with this view, the question is what [glossary id=’6898′ slug=’mortgage’ /] holders will be targeted first?

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A Repossession Guide for Irish Homeowners

We have written ‘A Repossession Guide for Irish Homeowners’ which you can download by clicking on the picture to the left.

The guide is there give people an understanding of the arrears & repossession process, and what you can do to help yourself.

We hope you find this useful, if there are other things that you feel should be included then leave a comment to that effect so that we can develop and improve this tool for people in difficulty.

This is part of an industry-oriented solutions based approach, we don’t intend to ever sell this document or control distribution of it, reproduce it, forward it, print it out and give it to somebody you know who might be in difficulty, our sole hope is that this may bring some degree of help to those most in need of it.

Sincerly, Karl Deeter, Irish Mortgage Brokers.

[This document is a pdf you will need to have adobe reader installed to view it, you can get Adobe Reader by clicking on the image …

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